2016-17 Financial Year Pakistan Got $7.75 Billion Loans & Grants

Pakistan Got $7.75 Billion Loans & Grants in 2016-17

Talk about the Grants received provisionally for the duration of the present financial year. It was the $7.747 billion that is 96% of estimated budget of foreign assistance from bilateral and multilateral donors. The Economic Affairs Division (EAD) exposed that $ 1.545 billion is borrowed by the government of Pakistan from commercial banks in May 2017. The government takes a loan of $130 million from Noor Bank PJSC as of budgetary support in May.

Pakistan Received $7.75 Billion Loans & Grants During 2016-17

The China Development Bank (CDB) provide $1 billion in funding in May. Supplementary the government loaned out $415 million from Switzerland-established financial group Credit Suisse. The government hired from Noor Bank PJSC $115 million in March as a budgetary support. Auxiliary from Industrial and Commercial Bank of China Limited $300 million was loaned out in January. The country takes a loan of $200 million from Noor Bank PJSC for budgetary support. The $700 million as non-project aid from China Development Bank in September.

The government also loaned out from Asian Infrastructure Investment Bank (AIIB) $22.64 million in the current fiscal year. However, it was not in the budgeted part of the EAD. The data demonstrations that government borrowed from the Eco Trade Bank $5 million in the month of February. This loan was also not budgeted. Furthermore, the government give out Sukuk of one billion dollars at a 6.5 percent rate of return. The EAD data demonstrations that country got $7.747 billion in the current economic year.

The government make provisions foreign aid of $7.998 billion for the financial year 2016-17. It also includes loans and grants contrary to $9.18 billion budget for 2015-16. The country got $1.852 billion in May together with $1.846 billion loans plus $5.92 million grants. The newest figures show that the country provisionally got $7.354 billion in the face of loans. However, in the face of grants, it got $393.39 million in the present financial year.

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